Dogness (International) Corp. (NASDAQ: DOGZ) stock declined by 1.88% at the last close whereas the DOGZ stock price surged by 19.90% in the after-hours trading session. Dogness (International) Corporation was created in 2003 on the conviction that dogs and cats are valuable and very well-loved members of the family. Dogness’ technology enhances pet lifestyles and strengthens relations between pets and pet caretakers via smart products, hygiene items, health and wellness goods, and leash products.
DOGZ stock’ Financial Highlights
Dogness Inc. has reported its financial outcomes for the fiscal year 2021. Given below is the summary:
- The company has reported its revenue for the full year 2021 as $24.3 million, which is a rise of 26.9% YoY.
- The sale of Intelligent Pet products has surged by 81.4% year-over-year.
- Gross Margin Increases 282.8% YoY to $9.1 Million, with 33.1 percent Gross Margin vs. 9.0 percent a year before.
- From a loss of $10.3 million a year ago, comprehensive income has risen to $6.2 million.
- From a loss of $0.33 per basic and diluted share a year ago, EPS has climbed to $0.05 per basic and diluted share.
Silong Chen, Chairman, and CEO of Dogness stated,
They are pleased with their sustained solid growth, but they know it might have been even better if the continuing global logistics problem had not hampered their progress. They simply can’t receive enough things in time to sell them. Despite this, they were able to maintain excellent growth in the fiscal year 2021, with a 26.9% rise in revenue over the fiscal year 2020. They’re especially happier with the increase in gross margin and profitability. Their revenue quality has gotten better as well, with sales volume for their intelligent pet products increasing by over 163 percent in the fiscal year 2021 relative to the fiscal year 2020.
They have carefully redirected their resources to create and drive the sales of higher-margin intelligent pet items within their integrated Smart Pet Ecosystem, which comprises revolutionary App-controlled pet feeders, pet water fountains, and smart pet toys.
